The Latest

Never before has so much value been made available to so many—and yet realized by so few.

The American Institute of CPAs submitted a letter last week to the Internal Revenue Service and the Treasury Department recommending relief for surviving spouses who would like to elect portability of their deceased spouse’s unused estate tax exemption.

The benefits of relaxation are obvious, but the methods for attaining it increasingly nebulous in today’s over-sensory work environments.

The AICPA submitted suggestions to the Senate Finance Committee Working Group last Thursday concerning Individual Income Tax that would simplify some areas of the tax code that individual taxpayers find the most difficult to understand and recommended provisions to combat identity theft and tax fraud.

Internal Revenue Service Commissioner John Koskinen met with the heads of some of the major tax software companies, tax preparation chains, state tax commissioners and other officials in an effort to combat the growing problem identity theft and tax fraud.

Selling an accounting practice is a once-in-a-lifetime experience for most practice owners. There is much time, energy and money invested in an accounting practice, so finding the right buyer is crucial. Since it is such a rare event, sellers should be educated about some of the key misconceptions about the process.

Whether you are graduating from college with a degree in accounting, or moving into the profession from an established career, the first position you will most likely hold in an accounting firm is that of staff accountant.

For the second year running, national firm BDO USA has racked up the most new SEC audit clients.

New hires, promotions and more…

The use of captive insurance by U.S. companies to manage costs and risks and realize tax benefits has been a legitimate activity for years. However, the IRS has recently focused significant audit resources on small and mid-market companies that are forming small or “micro” captive insurance companies.